CADE approves stakes acquisition of Light, Cemig to Renova

The Brazilian antitrust regulator Cade has approved Light SA and Cemig SA planned purchase of the shares in the renewables developer Renova Energia SA. 

Light SA and Cemig GT are acquiring the 32.15% and 67.85%, respectively, of CGI Fundo de Investimento em Participacoes shares (GGI). CGI currently holds 14.08% of Renova's share capital. Both Light SA and its unit Light Energia are part of the Cemig Group.

CGI is also entitled to receive debt securities held by both companies corresponding to BRL 14.68 (US$ 3.74) for each share issued by Renova, Light pointed out in its March 22, 2029 material fact.